Buying A Home
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home & family

Hi all,

I have been browsing the other boards and have not posted on this one in particular.  I've been married for 3 months and my husband and I have planned on starting a family in the spring.  I had my hopes set on saving a lump sum for a downpayment (which would be far from 20% - maybe around 4% of total mortgage) but after a discussion, we decided to wait 2 years before buying.  We now rent an apartment in a great area.  I'm wondering how many of you rented while having kids/babies.  Is it manageable?  Or were you compelled to purchase home first and start baby second?  Your input is appreciated!

Anniversary                  

Re: home & family

  • We bought because we found a house in a price we could afford that we loved..(before we were even looking!)...But our plan was to buy before we had kids (or wait to have kids until we could afford a house) . I wouldn't want to be moving around as much once I have kids.
  • When DD was born, we were still living in NYC where most people rent, even people with kids. When we relocated to our current city, we rented for another year to make sure we really wanted to buy here. Honestly? It doesn't make an iota of difference. Why would it? Even if you own, there's no guarantee you won't have to move again. Are you worried about space? As long as you have a two-bedroom, you'll be fine, although we survived in a one-bedroom in NY until DD was four months old. I'm just not sure where this stigma against renting comes from, especially in this market. 
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  • We did it with 2 kids. It was cramped but we were able to save 20% and get our forever house.  Definitely worth it!
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  • I live in Chicago where lots of people have kids in apartments.  It's completely doable, and if you're really concerned, just don't sign a long lease so that you can consider moving. 

    Another thought might be to re-evaluate when you want to have kids.  I don't know your age or where you are in life, but as much as I would love to have kids now, I personally know I have quite a time buffer. What would happen if you wait those two years to have kids?  Just a thought.  

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